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Kwara State gets N2.8b Federal allocation for March

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By Larry John Brown
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The Kwara State Government has received a total inflow of N2, 886,631,784.67k as federal allocation for the month of March, according to a statement issued by the Press Secretary in the state Ministry of Finance, Babatunde Toyin Abdulrasheed.

The allocation comprises statutory revenue allocation SRA (Gross) of N1,967,500,363.58k; deductions (loans) of N1,268,042,679.71k; SRA (Net) of N699,457,683.87k; Value Added Tax (VAT) of N1,665,520,784.67k; Excess Bank charges of N33,391,774.95k and Non Oil Revenue of N488, 261,483.95k

According to the statement, March allocation figure is higher by N291, 079,653.10k when compared with last month, but still represents a worrisome downward trend in revenue.

16 LGs get N2.5bn
The statement said the 16 local government areas also received a total sum of N2, 546,039,717.27k (net) as federal allocation for the month of March.

The figures comprise SRA (Gross) N1,297,699,856.05k; Deductions N37,797,083.19k; SRA (Net) N1,259,902,772.86k and VAT N943, 514,314,.35; Excess Bank charges of N21,302,611.76k and
Non Oil Revenue of N321, 320,018.30k

It added that the figure is higher by N182, 075,917.36k when compared with last month allocation, even though it means the LGAs will need extra funds to pay 100% salary.

Nneka Ukachukwu

Kwara State gets N2.8b Federal allocation for March

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Larry John is a talented writer and journalist based in New York, USA. He is a valued contributor to TDPel Media, where he creates engaging and informative content for readers. Larry has a keen interest in current events, business, and technology, and he enjoys exploring these topics in-depth to provide readers with a comprehensive understanding of the issues. His writing style is characterized by its clarity, precision, and attention to detail, which make his articles a pleasure to read. Larry’s passion for storytelling has earned him a reputation as a skilled writer and a respected authority in his field.